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During the final quarter of 2020, the auto insurance shopping rate averaged 4.7%, while new business volume grew quarter-on-quarter at an average of 3.9%. (Credit: Africa Studio/Shutterstock.com) During the final quarter of 2020, the auto insurance shopping rate averaged 4.7%, while new business volume grew quarter-on-quarter at an average of 3.9%. (Credit: Africa Studio/Shutterstock.com)

Auto insurance shopping activity and new business policy volume both increased overall during the final quarter of 2020, according to LexisNexis Risk Solutions, which reported an annual shop rate of 41% in the fourth quarter. This is the highest annual shop rate since LexisNexis began collecting the data.

Source: LexisNexis Risk Solutions Source: LexisNexis Risk Solutions

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Steve Hallo

Steve Hallo is an assistant editor with PC360 Group. Prior to his current position, Steve spent nearly a decade covering retail transformation, consumer trends, manufacturing issues and supply chain challenges impacting global CPG markets. He can be reached at [email protected], and on LinkedIn and Twitter.  

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